Midwest City, OK Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Midwest City, OK Housing Market Trends

With a population of 57,407, 22,946 total housing units (homes and apartments), and a median house value of $120,789, the cost of homes in Midwest City is among some of the lowest in the nation. Compared to Oklahoma, however, Midwest City real state is not on the lower end of the price spectrum.

Single-family detached homes are the single most common housing type in Midwest City, accounting for 75.54% of the city's housing units. Other types of housing that are prevalent in Midwest City include large apartment complexes or high rise apartments ( 13.48%), row houses and other attached homes ( 4.35%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.03%).

The most prevalent building size and type in Midwest City are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 56.26% owning and 43.74% renting.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Midwest City's housing was primarily built during this period, from the '40s through the '60s. A full 44.80% of the city's housing hails from this era. Other housing ages represented in Midwest City include homes built between 1970-1999 ( 39.57%) and housing constructed between 2000 and later ( 14.38%). There's also some housing in Midwest City built before 1939 ( 1.24%).

Midwest City Home Appreciation Rates

Real estate appreciation rates in Midwest City's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 3.17% during the period.

Over the last year, Midwest City appreciation rates have trailed the rest of the nation. In the last twelve months, Midwest City's appreciation rate has been 6.66%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Midwest City were at 2.26%, which equates to an annual appreciation rate of 9.35%.

Relative to Oklahoma, our data show that Midwest City's latest annual appreciation rate is lower than 50% of the other cities and towns in Oklahoma.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Midwest City differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Midwest City - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Midwest City real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$120,789

Midwest City, OK HOME PRICES

> $1,190,000
0.7%
0.7%
$892,001 - $1,190,000
0.4%
0.4%
$595,001 - $892,000
0.7%
0.7%
$476,001 - $595,000
0.6%
0.6%
$357,001 - $476,000
1.4%
1.4%
$238,001 - $357,000
7.3%
7.3%
$119,001 - $238,000
39.5%
39.5%
$60,001 - $119,000
40.4%
40.4%
$0 - $60,000
9.1%
9.1%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very Low for Nation

Average for OK

Value Relative To Nation

Number Of Homes And Apartments:
22,946

Midwest City Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
OK*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
71.96% 2.55%
3
4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,208 / per month

Homeownership Rate

Owners
56.3%
56.3%
Renters
43.7%
43.7%
Vacant
8.0%
8.0%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
14.4%
14.4%
1970 - 1999
39.6%
39.6%
1940 - 1969
44.8%
44.8%
1939 or Older
1.2%
1.2%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
75.5%
75.5%
Townhomes
4.3%
4.3%
Small Apt. Buildings
4.0%
4.0%
Apt. Complexes
13.5%
13.5%
Mobile Homes
2.5%
2.5%
Other
0.1%
0.1%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.8%
0.8%
1 Bedroom
9.1%
9.1%
2 Bedrooms
22.6%
22.6%
3 Bedrooms
56.0%
56.0%
4 Bedrooms
10.7%
10.7%
5 or more bedrooms
0.7%
0.7%
0.0% 100.0%
% OF HOMES